āagman

Not investment advice. Data and computed figures, for information only.

eClerx Services Ltd

NSE: ECLERX
₹1,998.20
+₹30.60 (+1.56%)
NSE · 15 Oct 2026, close
NSE
As of 31 Mar 2026
Market Cap
₹17,557 Cr
CMP
₹1,998.20
52-wk High / Low
₹4,995 / 1,320
P/E
24.1
P/B
6.9
Book Value
₹272.0
Div Yield
0.05%
ROCE
34.0%
ROE
28.4%
Face Value
₹10
D/E
0.15

Price−51.1% over 1Y

āagman read

Computed by āagman
Derived from 12 years and 15 quarters of filings. Not reported by the company.
As of 15 Oct 2026
How we compute these
Piotroski F-Score
6
/ 9
6 of 9 F-score tests passed
Graham Number
₹678
√(22.5 × EPS × book value per share)
ROIC
22.5%
vs 9.3% sector median
Cash flow to profit
1.24
CFO / PAT
Above 1.0 = operating cash flow exceeded reported profit
Margin change
−95
bps OPM YoY
Operating margin vs the same quarter last year
Sustainable growth
28.1%
ROE × earnings retention ratio
ROE stability
2.3
pp σ
Standard deviation of ROE across periods. Lower = more stable
Holder deltas
QoQ
pp
Prom +0.00FII −0.81DII −0.11
Latest quarter vs the previous one
Cash-accrual divergence
−4.9%
of assets
Low = accruals track cash flow
Strengths
+ROCE has stayed above the sector median for 5 consecutive years (weakest: 28% vs the 2025 sector median of 14%)
+Promoter holding rose by 0.9pp over the last year
+PE of 24.1x is below the sector median of 30.5x
Watch-outs
−Borrowings are up 9525% since FY2016 (4 to 385)
−Price trades below its 200-day moving average (0.9x)
−Price is 60.0% below its 52-week high
−Annualised volatility of 83.1% is in the high band (≥45%)

Peer comparison

Peers
NameP/EMar Cap ₹ CrROCE %ROE %

Quarterly results

Consolidated basis (as filed) · ₹ Cr · 13 quarters
As of 30 Jun 2026
Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Sales6847227537677828328548989351,0051,0701,1071,152
Expenses517517546571616616646680710734794824887
Operating Profit167205207196166216207219224271276283265
OPM %24.4%28.4%27.5%25.6%21.2%26.0%24.2%24.4%24.0%27.0%25.8%25.6%23.0%
Other Income8141923211321321127303018
Interest6666888111011101215
Depreciation28303434323336413742465050
Profit before tax141182187179148188184199188245250252219
Net Profit107136139130112140137153142183192190164
EPS (₹)10.8413.8614.1313.3111.3814.7214.3815.9714.8719.2220.4020.1317.47

Profit & Loss

As of 30 Jun 2026
Consolidated · ₹ Cr · 12 years + TTM
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales9421,3141,3301,3651,4311,4381,5642,1602,6482,9263,3664,1174,335
Expenses6268338699981,1221,1111,1151,4981,9252,1502,5573,0643,239
Operating Profit3164824613683093264506627237768091,0531,096
OPM %33.5%36.7%34.7%27.0%21.6%22.7%28.8%30.6%27.3%26.5%24.0%25.6%25.3%
Other Income3236286149453424666487101105
Interest112112021232224364447
Depreciation50575248457182103114126141175188
Profit before tax298460436380311281381560653689719935966
Net Profit230342354290228209283418489512541706729
EPS (₹)18.9027.9029.6525.0019.6618.8326.9941.0849.8352.1456.7875.0977.22

Balance Sheet

As of 30 Jun 2026
Consolidated · ₹ Cr
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026Jun 2026
Equity Capital304140383836343348484792—
Reserves6851,0521,1761,1671,3441,2701,4671,5341,6672,1992,2592,469—
Borrowings04162157175163194266358385—
Other Liabilities242192182208201260315324365406475744—
Total Liabilities9571,2881,3981,4191,5841,7231,9912,0552,2742,9193,1393,691—
Fixed Assets1673653253433484807287137738439741,054—
CWIP1020010221105—
Investments155219252165286437229196275406309308—
Other Assets6347048209109508061,0331,1451,2061,6691,8562,324—
Total Assets9571,2881,3981,4191,5841,7231,9912,0552,2742,9193,1393,691—

Cash Flows

As of 31 Mar 2026
Consolidated · ₹ Cr
Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from Operating Activity195243418312305206333365444493526655873
Cash from Investing Activity−129−62−167−17526−23024−244−55−483143−97
Cash from Financing Activity−84−115−165−245−304−54−308−188−416−440−107−610−622
Net Cash Flow−176686−10828−774917471−2−64188155

Ratios

As of 31 Mar 2026
13 periods
Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
ROCE %65.046.051.038.030.024.021.024.034.036.032.028.034.0
ROE %————————————28.4
EPS (₹)21.1618.9027.9029.6525.0019.6618.8326.9941.0849.8352.1456.7875.09
Book Value (₹)————————————272.0
Face Value (₹)————————————10
P/E————————————24.1
Div Yield %————————————0.05
NPM %30.423.625.326.120.315.414.117.719.118.017.115.716.7
OPM %42.034.037.035.027.022.023.029.031.027.027.024.026.0
D/E0.000.000.000.000.000.000.120.120.100.110.120.160.15
P/B————————————6.9

Growth

As of 11 Oct 2026
Compounded sales growth
10 years+12.0%
5 years+21.0%
3 years+16.0%
TTM+23.0%
Compounded profit growth
10 years+7.0%
5 years+21.0%
3 years+13.0%
TTM+28.0%
Stock price CAGR
10 years+14.0%
5 years+20.0%
3 years+20.0%
Last year−9.0%
Return on equity
10 years24.0%
5 years26.0%
3 years25.0%
Last year28.0%

Shareholding pattern

As of 31 Mar 2026
Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Promoters50.28%50.28%50.31%50.53%50.76%53.81%53.38%53.61%53.61%53.81%54.53%54.53%
FIIs30.73%30.73%24.87%23.06%17.56%18.86%13.83%12.64%12.19%10.12%11.82%11.01%
DIIs11.82%11.82%15.05%16.79%21.24%15.13%19.34%20.19%22.75%25.12%23.95%23.84%
Government0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.02%0.02%0.02%0.02%0.02%
Public6.98%6.98%8.59%7.25%8.06%9.67%11.30%11.52%9.78%9.49%7.53%8.43%
No. of shareholders20,54220,54231,34635,44634,74933,75150,89853,24849,15769,42467,14274,342
Change since Jun 2023 (pp)
Promoters +4.25FIIs −19.72DIIs +12.02Public +1.45

Documents

As of 11 Oct 2026
Announcements
Closure of Trading WindowAnnouncement under Regulation 30 (LODR)-Analyst / Investor Meet - IntimationAnnouncement under Regulation 30 (LODR)-Analyst / Investor Meet - IntimationAnnouncement under Regulation 30 (LODR)-Analyst / Investor Meet - IntimationAnnouncement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation
Annual reports
Annual Report 2026Annual Report 2025Annual Report 2024Annual Report 2023Annual Report 2022
Concalls
Sep 2026PPTSep 2026RecordingAug 2026PPTAug 2026PPTMay 2026TranscriptMay 2026PPTMay 2026RecordingFeb 2026TranscriptFeb 2026PPTFeb 2026Recording

Corporate actions

As of 21 Aug 2026
21 Aug 2026DIVIDENDDividend - Re 1 Per Share—
13 Mar 2026BONUSBonus 1:1—
22 Aug 2025DIVIDENDDividend - Re 1 Per Share—
6 Sep 2024DIVIDENDDividend - Re 1 Per Share—
31 Aug 2023DIVIDENDAnnual General Meeting/Dividend - Re 1 Per Share—
21 Sep 2022BONUSBonus 1:2—
19 Aug 2022DIVIDENDDividend - Re 1 Per Share—
15 Sep 2021DIVIDEND Annual General Meeting/Dividend - Re 1 Per Share—
16 Sep 2020DIVIDEND Dividend - Re 1 Per Share—
21 Aug 2019DIVIDEND Annual General Meeting/Dividend Rs 1 Per Share—
20 Aug 2018DIVIDEND Annual General Meeting/Dividend- Re 1 Per Share—
11 Aug 2017DIVIDEND Annual General Meeting/Dividend - Re 1/- Per Share—
4 Jul 2016DIVIDEND Annual General Meeting/Dividend Re 1/- Per Share—
17 Dec 2015BONUS Bonus 1:3—
9 Jul 2015DIVIDENDAnnual General Meeting/ Dividend - Rs 35/- Per Share—
2 Jul 2014DIVIDENDAnnual General Meeting / Dividend - Rs 35/- Per Share—
13 Aug 2013DIVIDENDAnnual General Meeting/Dividend Rs 25/- Per Share—
13 Aug 2012DIVIDENDAnnual General Meeting/Dividend Rs 17.50 Per Share—
12 Aug 2011DIVIDENDAnnual General Meeting And Dividend Rs.22.50 Per Share—
6 Sep 2010DIVIDENDAnnual General Meeting And Dividend Rs.10/- Per Share—
23 Jul 2010BONUSBonus 1:2—
Fundamentals from a third-party compiler of exchange filings; prices from the exchanges. Not investment advice.© 2026 āagman